Today, AAPL crossed the $500/share mark for the first time in its history this morning. The stock has surged over 17 percent in the weeks following its blowout fiscal Q1 2012 earnings report. The company reported revenue of $46.33B USD and net profit of a whopping $13.06B. In addition, the company sold a record 37 million iPhones during the quarter.

Apple is currently ranked as the largest company in the world by market cap. In addition, Apple's market cap is currently more than both Google and Microsoft combined.

Following Steve Jobs' resignation as CEO in August 2011, AAPL hit a [then] all-time high of $411 pushing it ahead of Exxon Mobile as the world's largest company by market cap.

Lots of companies have higher stock prices than Apple. What was meant by Apple being worth more than Google and Microsoft combined is that Apple's market capitalization is greater than Microsoft's and Google's combined market cap.